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This is not the first time we've heard that BMW is developing a more efficient way to lose both your car keys and credit card information, and now more details have emerged about its multifunction smart key. The Smart Key, which contains a security chip that can talk to a card reader over short distances, may start out with a smaller function set than it ultimately ends up with as the technology matures. Storing access passes for public transportation and information to facilitate electronic payments are two abilities that BMW feels will eventually appeal to consumers, for instance. More interestingly, the key can be used to carry your personal preferences from car to car like a dongle. Owners would have the fob personalized to their ConnectedDrive preferences, which would then make those options available in any BMW, not just the owner's personal car. It's a novel way to ensure that your favorite radio stations and other services travel with you, provided you always insist on a BMW.

[Source: BMW via 4 Wheels news]